By Friday, Silicon Valley Bank became pretty much a household name, even by the many who’d never previously heard of, or cared, about it. The Silicon Valley Bank, the California bank subsidiary ...
Tag: BofA
Investors Are Dumping Equities and Cash Amid Fears of Hawkish Fed, BofA Says
(Bloomberg) — Investors are dumping equities and cash alike in favor of bonds as they position for the risk that the Federal Reserve persists with hawkish policy moves, Bank of America Corp. str...
BofA Says Hard Landing to Hit Stocks in Second Half
(Bloomberg) — The delayed arrival of a US recession will weigh on stocks in the second half of the year, according to Bank of America Corp. strategists, who say a resilient economy thus far mean...
BofA Survey Shows Investors Don’t Expect the Stock Rally to Last
(Bloomberg) — While equity markets are on a relentless march higher amid optimism around stronger economic growth and cooling inflation, most investors aren’t convinced the gains will last, acco...
BofA Says Equity Rally Faces Inflation Reckoning
(Bloomberg) — Next week’s US inflation data will mark a turning point for the equity rally at a time when investors are swapping stocks for bonds amid the specter of a recession, according to Ba...
BofA Warns Investors Risk Sleepwalking Into Selloff
(Bloomberg) — The US stock rally has already gone too far, and investors face brutal declines if economic growth crumbles in the second half of the year, Bank of America Corp. strategists say. M...
JP Morgan, Wells Fargo, BofA New Wallet Offer Crypto Payments?
Crypto Payments Wallet News: Banking giants, including Wall Street biggies Wells Fargo, Bank of America and JPMorgan Chase are preparing to launch a new payments wallet. The wallet is seen as the bank...
China Driving Dollar More Than Fed Hikes, BofA Strategists Say
(Bloomberg) — While much of the focus in currency markets right now is how the prospect of slowing Federal Reserve rate hikes has helped fuel dollar weakness, the biggest factor may be across th...
BofA Strategists Say US Stocks Set For 10% Drop Before Later Rally
(Bloomberg) — US stocks are poised for a fresh slide before ultimately rallying in the second half of the year when economic conditions stabilize, according to Bank of America Corp. strategists....
This real estate stock got a double upgrade from BofA today
Zillow Group Inc (NASDAQ: ZG) is trading up on Monday after a Bank of America analyst issued a bullish note in favour of the tech-powered real estate marketplace. The bull case for Zillow stock Curtis...
Has BOfA Filed For “Bitcoin Bank America” Trademark With USPTO?
Mike Kondoudis, licensed trademark attorney at the USPTO, on Tuesday revealed that someone has filed a trademark for “Bitcoin Bank America” with the U.S. Patent and Trademark Office. The trademark is ...
How BofA came back from the brink of collapse
The 2008 financial crisis had a devastating impact on Bank of America. Shares of the bank were trading for as low as $2.53 in 2009 and net income dropped from a high of $21 billion in 2006, to just $4...
Equity funds suffer largest ever weekly outflows: BofA Global
Investors withdrew billions of dollars from equity funds at a record pace in the days after the Federal Reserve, the Bank of England and European Central bank raised interest rates in mid-December and...
Credit Suisse – A ‘New Company Is Emerging,’ Says BofA While Upgrading Stock
BofA Securities upgraded Credit Suisse Group AG (NYSE: CS) to Buy from Neutral with a CHF 3.60 price target suggesting more than 20% upside potential. BofA analyst sees the rebuilding of Credit Suisse...
Wells Fargo, BofA CEOs say consumer demand is cooling, recession looms
Many shoppers say they plan to spend less this Black Friday as the cost-of-living crisis bites. Richard Baker | In Pictures | Getty Images American consumers are tapping the brakes on spending as the ...
S&P 500 could plunge 20% in coming months as recession hits, BofA warns
The stock market could face another tumultuous year in 2023, with the S&P 500 experiencing a dramatic correction if the U.S. tumbles into a recession, according to Bank of America strategists. In ...
BofA is selling U.S. equities rally on worries that unemployment will be ‘shocking’ in 2023
Strategists at BofA Global Research said it is time to sell the U.S. stock market rally ahead of a potential surge in the unemployment rate next year. “Bears (like us) worry unemployment in 2023 will...
BofA Says Sell Equities Rally Ahead of 2023 Unemployment Shock
(Bloomberg) — Stock investors’ optimism around a cooling labor market and a Federal Reserve pivot is overdone, according to Bank of America Corp. strategists, who recommend selling the rally ahe...
‘Wealth effect on steroids’: Here’s the potential fallout from $22 trillion lost by investors this year, according to BofA
Bank of America says a “wealth effect on steroids” may impact the U.S. economy as a result of the fall in the value of stocks and bonds and other assets worth trillions of dollars in 2022. “The $22 tr...
BofA Sees Bear Rally Fizzling Out Even as Equity Inflows Surge
(Bloomberg) — Investors flocked back into equities at the fastest pace in about eight months on signs of cooling inflation, but Bank of America Corp. strategists warn the rally will fizzle out d...
Bitcoin is now the fifth-biggest wipeout of all time, BofA says, with a shocking chart of the last 50 years in finance
The crypto industry is once again feeling the chill of winter. Bitcoin is experiencing one of the biggest crashes in history—that’s apparent. But Bank of America Research’s Flow Show research note has...
‘We’ve seen this before,” warns BofA. Why inflation could take until 2024 to fall to 3% and weigh on stocks.
U.S. stocks roared higher Thursday after October’s consumer-price index showed inflation rising at a less aggressive annual pace than expected, spurring hopes that the Federal Reserve’s inflation flig...
‘Get Ready to the Small-Cap Bull Run,’ Says BofA. Here Are 2 Small ‘Strong Buy’ Stocks to Consider
Worn out from 2022’s unremitting bear market? Well, good news. According to Bank of America, the scene is set for a 2023 bull run. But more intriguingly, given the current conditions, the market leade...
S&P 500 earnings estimates for 2023 take ‘complete U-turn’ as recession risks loom, according to BofA
The S&P 500 risks another leg down after a “complete U-turn” in 2023 earnings-per-share estimates for the U.S. stock-market index, according to a BofA Global Research note. “Forward estimates have...
BofA Says Rush to Cash Is Now at Fastest Pace Since Pandemic
(Bloomberg) — Cash is king, with investors fleeing to the safety of cash funds at the fastest pace since the coronavirus pandemic as the Federal Reserve remains firmly hawkish, according to stra...
2008 all over again? BofA is offering zero-down-payment, zero-closing cost mortgages for minority communities — here’s what you need to know about the program
2008 all over again? BofA is offering zero-down-payment, zero-closing cost mortgages for minority communities — here’s what you need to know about the program A major American bank’s new p...
Get ready for some bullish history to repeat with these stocks, says BofA analysts
Stagflation is coming, but with that comes a silver lining for some equities if history is any guide. That’s according to strategists at Bank of America, who see a macro backdrop that continues to ref...
BofA Indicator Is Closest to Saying ‘Buy’ US Stocks Since 2017
(Bloomberg) — A Bank of America Corp. contrarian indicator based on Wall Street strategists’ allocation views is nearest to flashing “buy” US equities in more than five years. Most Read from Blo...
Use the recent uptick in Whirlpool stock to cut exposure: BofA
Whirlpool Corporation (NYSE: WHR) has climbed nearly 10% since last Friday – an uptick that a Bank of America analyst suggests should be used to pull out of this stock. Whirlpool stock could slide ano...
Gold vs BTC correlation signals Bitcoin becoming safe haven: BofA
Despite the ongoing cryptocurrency bear market, investors have been increasingly looking at Bitcoin (BTC) as a safe haven, a new study suggests. The rise in the correlation between Bitcoin and gold (X...
Caterpillar stock rises to 4th straight record after BofA analyst becomes top bull on Wall Street
Shares of Caterpillar Inc. rallied Friday to a fourth straight record close, after BofA Securities analyst Michael Feniger turned bullish on the belief that the construction- and mining-equipment make...